A relative wants to sell an entire small G+2 commercial building, ground floor shops plus offices above, instead of splitting it into units. Never bought an entire building before, only ever a single unit. What changes when you own the whole thing versus one floor of it?
Owning the whole building means you're the landlord for every tenant, not just one, so vacancy risk spreads out but so does maintenance responsibility — lift, water tank, common electricity, all on you now instead of an association. Check the OC for the whole structure as it actually stands, not just what was originally sanctioned; a lot of these small buildings get an extra floor added later without approval and that unapproved floor is a real problem at resale or if you ever want a loan against it. Get the sanctioned plan and physically match it floor by floor.
Also ask each existing tenant for their trade license and lease paperwork separately, don't assume the seller's word covers all of them.
That's the bit I hadn't thought of, will ask for each tenant's documents individually.
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